12 Principles of Economic Wisdom

From Economic Wisdom.org:

Our vision of economic wisdom is summarized in twelve “elements” that provide starting points for thoughtful, biblically informed understanding of contemporary opportunities and challenges.

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Stewardship and Flourishing

We were given stewardship over the world so our work would make it flourish for his glory.

1. We have a stewardship responsibility to flourish in our own lives, to help our neighbors flourish as fellow stewards, and to pass on a flourishing economy to future generations. (PDF) (one-pager)

2. Economies flourish when people have integrity and trust each other. (PDF) (one-pager)

3. In general, people flourish when they take responsibility for their own economic success by doing work that serves others and makes the world better. (PDF) (one-pager)

Value Creation

Through economic exchange, we work together and create value for one another.

4. Real economic success is about how much value you create, not how much money you make. (PDF) (one-pager)

5. A productive economy comes from the value-creating work of free and virtuous people. (PDF) (one-pager)

6. Economies generally flourish when policies and practices reward value creation. (PDF) (one-pager)

Productivity and Opportunity

Economic systems should be grounded in human dignity and moral character.

7. Households, businesses, communities and nations should support themselves by producing more than they consume. (PDF) (one-pager)

8. A productive economy lifts people out of poverty and generally helps people flourish. (PDF) (one-pager)

9. The most effective way to turn around poverty, economic distress and injustice is by expanding opportunity for people to develop and deploy their God-given productive potential in communities of exchange, especially through entrepreneurship. (PDF) (one-pager)

Responsible Action

Economic systems should practice and encourage a hopeful realism.

10. Programs aimed at economic problems need a fully rounded understanding of how people flourish. (PDF) (one-pager)

11. Economic thinking must account for long-term effects and unintended consequences. (PDF) (one-pager)

12. In general, economies flourish when goodwill is universal and global, but control is local and personal knowledge guides decisions. (PDF) (one-pager) [read more]

Nice. H/T: “12 Principles of Economic Wisdom” table podcast from voice.dts.edu.